C’wealth trade forum in Dhaka to explore avenues for economic growth

The first-ever Commonwealth Trade and Investment Forum will be held in Dhaka in September, aiming to foster partnerships, promote innovation, and explore avenues for sustainable and inclusive economic development among the Commonwealth countries, including Bangladesh. 

The two-day forum, organised by the Commonwealth Enterprise and Investment Council (CWEIC), in partnership with the Bangladesh Investment Development Authority (Bida), Ministry of Foreign Affairs and ZI Foundation, will take place on 13-14 September. 

"This forum could be a great opportunity to increase trade and investment for Bangladesh. Business people from many Commonwealth countries will participate in the forum. Bangladesh can also present its investment potential to them," said Salman F Rahman, the private industry and investment adviser to the Prime Minister, at a press briefing in the capital on Sunday. 

Lord Swire KCMG, Member of the House of Lords of the United Kingdom and deputy chairman of the CWEIC, said, "The Commonwealth is an amazing opportunity for Bangladeshi companies to explore – 56 countries of untapped potential and limitless possibilities".

Around 400-500 delegates, including heads of state, political leaders, and business leaders from Commonwealth member states, are expected to participate in the forum.

BIDA executive chairman Lokman Hossain Mia highlighted the significance of the Commonwealth's extensive network, consisting of 56 member countries and a population of 2.5 billion, which accounts for one-third of the global population. 

This forum will tap the potential for Bangladesh to leverage diverse market access opportunities for its products and services within the Commonwealth, he hoped.

The combined GDP of the Commonwealth countries exceeds $13 trillion, projected to reach $19.5 trillion by 2027. Leveraging this vast network, BIDA seeks to forge new partnerships and facilitate foreign direct investment (FDI) and trade with member countries.

State Minister for Foreign Affairs Md Shahriar Alam underscored the need for the Commonwealth to address the vulnerabilities of the least developed countries (LDCs), landlocked developing countries (LLDCs), small island developing states (SIDS), and countries with special needs.